Presidential town hall debate excerpts – President Barack Obama on the Bush legacies

Edited by Jenny Jiang

Excerpts from the presidential town hall debate at Hofstra University in Hempstead, New York on Oct. 16, 2012

Transcript of President Barack Obama’s remarks on the Bush administration’s legacies

President Barack Obama: First of all, I think it’s important to tell you that we did come in during some tough times. We were losing 800,000 jobs a month when I started. But we had been digging our way out of policies that were misplaced and focused on the top doing very well and middle class folks not doing well.

Now, we’ve seen 30 consecutive — 31 consecutive months of job growth; 5.2 million new jobs created. And the plans that I talked about will create even more.

But when Governor Romney says that he has a very different economic plan, the centerpiece of his economic plan are tax cuts. That’s what took us from surplus to deficit. When he talks about getting tough on China, keep in mind that Governor Romney invested in companies that were pioneers of outsourcing to China, and is currently investing in countries — in companies that are building surveillance equipment for China to spy on its own folks.

That’s — Governor, you’re the last person who’s going to get tough on China. And what we’ve done when it comes to trade is not only sign three trade deals to open up new markets, but we’ve also set up a task force for trade that goes after anybody who is taking advantage of American workers or businesses and not creating a level playing field. We’ve brought twice as many cases against unfair trading practices than the previous administration and we’ve won every single one that’s been decided.

When I said that we had to make sure that China was not flooding our domestic market with cheap tires, Governor Romney said I was being protectionist; that it wouldn’t be helpful to American workers. Well, in fact we saved 1,000 jobs. And that’s the kind of tough trade actions that are required.

But the last point I want to make is this. You know, there are some things where Governor Romney is different from George Bush. George Bush didn’t propose turning Medicare into a voucher. George Bush embraced comprehensive immigration reform. He didn’t call for self-deportation.

George Bush never suggested that we eliminate funding for Planned Parenthood, so there are differences between Governor Romney and George Bush, but they’re not on economic policy. In some ways, he’s gone to a more extreme place when it comes to social policy. And I think that’s a mistake. That’s not how we’re going to move our economy forward.



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